Yahoo Just Bought Tumblr For $1.1 Billion
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Your GIFs and selfies, they now belong to Yahoo. The Wall Street Journal is reporting that the “Yahoo board has approved a deal to pay $1.1 billion in cash for the blogging site Tumblr.” All Things D has the specifics: Yahoo has been mulling a deal with the hip blogging site…Sources said that the Silicon Valley Internet giant’s CEO Marissa Mayer has decided that buying Tumblr was going to be “the stake in the ground of what her strategy is going forward for Yahoo.” And that’s to attract younger audiences with the kind of user-generated content Tumblr has pioneered to huge growth.